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Unformatted text preview: Problem 3 (4 pts): How much will be accumulated in a fund, earning 6% yearly interest, at the end of 4 years if $750 is deposited at the end of each year for the 4 years? EGR 102 of 2 pages Lecture HW 02 2 Problem 4 (4 pts): How much principal will be paid (subtracted from the balance) and interest will be paid in each payment on a $10,000 loan with a 6 year term at 5% interest? Assume yearly payments. Build a table showing year, interest due, total owed, payment, and balance....
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This note was uploaded on 04/02/2012 for the course EGR 100 taught by Professor Hinds during the Fall '08 term at Michigan State University.
- Fall '08